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Stock- Based Compensation (Tables)
12 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of the Information regarding Grants The following table sets forth information regarding the grants:

 

Date of grant

 

November 21, 2024

 

 

January 29, 2025

 

 

February 5, 2025

 

Options granted

 

 

237,695

 

 

 

465,889

 

 

 

57,009

 

Exercise price

 

$

11.04

 

 

$

12.50

 

 

$

12.36

 

Vesting period (years)

 

 

5.00

 

 

 

5.00

 

 

 

5.00

 

Expiration date

 

November 21, 2034

 

 

January 29, 2035

 

 

February 5, 2035

 

Expected Volatility(1)

 

 

27.90

%

 

 

27.87

%

 

 

27.87

%

Expected term (years)(2)

 

 

6.50

 

 

 

6.50

 

 

 

6.50

 

Expected dividend yield(3)

 

 

0.00

%

 

 

0.00

%

 

 

0.00

%

Forfeiture rate

 

 

0.00

%

 

 

0.00

%

 

 

0.00

%

Risk free rate of return(4)

 

 

4.36

%

 

 

4.44

%

 

 

4.33

%

Fair value per option

 

$

4.24

 

 

$

4.82

 

 

$

4.73

 

 

(1)
Expected volatility is based on the standard deviation of the historical volatility of the daily adjusted closing price of a group of peers' shares
(2)
Expected term represents the period of time that the option is expected to be outstanding, determined using the "Simplified Method"
(3)
Expected dividend yield is determined based on management's expectations regarding issuing dividends in the foreseeable future
(4)
The risk-free rate of return is based on the U.S. Treasury yield curve in effect at the time of grant for a period equivalent to the expected term of the option
Schedule of the Stock Option Activities

The following table represents stock option activities for the period indicated:

 

 

 

Year Ended June 30, 2025

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term (years)

 

 

Aggregate
Intrinsic Value

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Balance at beginning of period

 

 

 

 

$

 

 

 

 

 

$

 

Granted

 

 

760,593

 

 

 

12.03

 

 

 

9.77

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited or expired

 

 

 

 

 

 

 

 

 

 

 

 

Balance at end of period

 

 

760,593

 

 

$

12.03

 

 

 

9.77

 

 

$

1,116

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

 

 

 

$

 

 

 

 

 

$

 

Schedule of the Restricted Stock Award Activities

The following table represents information regarding restricted stock award activities for the periods indicated:

 

 

Year Ended
June 30, 2025

 

 

Number
of Shares

 

 

Weighted-
Average Grant
Date Fair Value
Per Share

 

Balance at beginning of period

 

 

 

 

$

 

Granted

 

 

304,231

 

 

 

12.03

 

Vested

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Balance at end of period

 

 

304,231

 

 

$

12.03

 

Summary of Compensation Expense and Income Tax Benefit Recognized

The following table represents the compensation expense and income tax benefit recognized for stock options and restricted stock awards for the period indicated:

 

 

 

Year Ended
June 30, 2025

 

 

 

(In thousands)

 

Stock-based compensation expense

 

 

 

Stock options

 

$

327

 

Restricted stock awards

 

 

340

 

Total stock-based compensation expense

 

$

667

 

Related tax benefits recognized in earnings

 

$

188

 

Summary of Total Compensation Cost Related to Non-Vested Awards Not Yet Recognized and the Weighted Average Period

The following table sets forth the total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized as of June 30, 2025:

 

 

Amount

 

 

Weighted
Average
Period (years)

 

 

(In thousands)

 

 

 

 

Stock options

 

$

3,196

 

 

 

4.53

 

Restricted stock awards

 

 

3,321

 

 

 

4.53

 

Total

 

$

6,517

 

 

 

 

Summary of Shares Held by the ESOP

Shares held by the ESOP were as follows:

 

 

 

June 30, 2025

 

June 30, 2024

 

 

 

(In thousands)

 

Allocated to participants

 

 

76,064

 

 

38,032

 

Committed to be allocated

 

 

19,016

 

 

19,016

 

Unallocated

 

 

665,554

 

 

703,586

 

Total ESOP shares

 

 

760,634

 

 

760,634

 

 

 

 

 

 

Fair value of unearned shares

 

$

8,985

 

$

6,508